Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Given Average Recommendation of "Hold" by Analysts

Key Points

• Fomento Economico Mexicano S.A.B. de C.V. has an average analyst recommendation of "Hold", with four analysts issuing hold ratings and two assigning buy ratings.
• The company's quarterly earnings report indicated a missed earnings expectation with an EPS of $0.42 compared to the consensus estimate of $0.91, along with a revenue of $11.27 billion.
• Fomento Economico Mexicano recently increased its quarterly dividend to $1.3625, resulting in an annualized yield of 6.5%, up from the previous dividend of $0.73.

Shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Get Free Report) have been given an average rating of "Hold" by the six research firms that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $105.16.

Several research analysts recently weighed in on the stock. Morgan Stanley reissued an "equal weight" rating and issued a $97.00 target price (down previously from $132.00) on shares of Fomento Economico Mexicano in a research note on Tuesday, August 19th. UBS Group boosted their target price on shares of Fomento Economico Mexicano from $112.00 to $115.00 and gave the company a "neutral" rating in a research note on Thursday, July 10th. Finally, Barclays cut their target price on shares of Fomento Economico Mexicano from $110.00 to $107.00 and set an "equal weight" rating for the company in a research note on Thursday, July 31st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada increased its stake in shares of Fomento Economico Mexicano by 1.9% during the 1st quarter. Royal Bank of Canada now owns 5,369,981 shares of the company's stock valued at $524,003,000 after acquiring an additional 100,898 shares during the last quarter. Nuveen LLC acquired a new position in shares of Fomento Economico Mexicano during the 1st quarter valued at about $330,437,000. Nuveen Asset Management LLC increased its stake in shares of Fomento Economico Mexicano by 25.4% during the 4th quarter. Nuveen Asset Management LLC now owns 2,158,614 shares of the company's stock valued at $184,540,000 after acquiring an additional 437,699 shares during the last quarter. Citigroup Inc. increased its stake in shares of Fomento Economico Mexicano by 309.6% during the 2nd quarter. Citigroup Inc. now owns 1,714,895 shares of the company's stock valued at $176,600,000 after acquiring an additional 1,296,194 shares during the last quarter. Finally, Aberdeen Group plc increased its stake in shares of Fomento Economico Mexicano by 10.8% during the 2nd quarter. Aberdeen Group plc now owns 1,155,766 shares of the company's stock valued at $119,414,000 after acquiring an additional 112,813 shares during the last quarter. Institutional investors and hedge funds own 61.00% of the company's stock.

Fomento Economico Mexicano Price Performance

Fomento Economico Mexicano stock opened at $83.61 on Thursday. Fomento Economico Mexicano has a 52 week low of $81.07 and a 52 week high of $108.74. The company has a quick ratio of 1.06, a current ratio of 1.34 and a debt-to-equity ratio of 0.42. The firm's 50-day simple moving average is $93.55 and its 200 day simple moving average is $98.16. The firm has a market capitalization of $29.91 billion, a PE ratio of 28.44, a P/E/G ratio of 5.07 and a beta of 0.70.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.49). Fomento Economico Mexicano had a return on equity of 5.32% and a net margin of 2.60%.The business had revenue of $11.27 billion during the quarter, compared to analysts' expectations of $216.71 billion. On average, equities research analysts predict that Fomento Economico Mexicano will post 5.32 EPS for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 28th. Investors of record on Thursday, July 17th were paid a $1.3625 dividend. This represents a $5.45 annualized dividend and a yield of 6.5%. The ex-dividend date of this dividend was Thursday, July 17th. This is a positive change from Fomento Economico Mexicano's previous quarterly dividend of $0.73. Fomento Economico Mexicano's dividend payout ratio is presently 74.83%.

Fomento Economico Mexicano Company Profile

Fomento Económico Mexicano, SAB. de C.V., through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages. The company produces, markets, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay.

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